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Friday, 19 July 2019

2-Building Office Campus in El Segundo, Calif., Sold for $50.8Mln

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Vella Group has bought a 200,220-square-foot office campus in El Segundo, Calif., for $50.8 million, or $230.91/sf.

The New York investment firm purchased the two-building property, at 650 and 700 Pacific Coast Highway, from a private family trust that was represented by CBRE and NKF.

The property is fully occupied by Boeing, but the aerospace company's lease expires next year and it does not plan to renew it. Vella will renovate the property after Boeing leaves, redeveloping it into creative office...

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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • States: California
  • Sector: Office
  • Subject: Property Acquisitions (ACQ)
  • Valuation: Between $50 million and $100 million
  • Private: Yes
Read 254 times Last modified on Friday, 19 July 2019
Dan Moynihan

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